Bank of America CEO Brian Moynihan on Monday said the firm is preparing for the U.S. to default on its debt after surpassing its borrowing limit last month. 

Lawmakers are locked in talks about whether to lift the debt ceiling, with Republicans insisting on spending cuts before a deal to raise the limit is struck, and economists are warning of financial crisis if a default does occur. 

https://thehill.com/policy/finance/3845901-bank-of-america-ceo-preparing-for-us-debt-default/amp/

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